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20121101
20121130
Search Results 0 to 39 of about 40 (some duplicates have been removed)
. and the white house warned republicans against using the debt limit as leverage to force agreement. >> asking for... that a political price be paid in order for congress to do its job, to ensure that the united states of america pays its bills and does not default for the first time in its history, is deeply irresponsible. >> reporter: at least talks are going on. the speaker and the president spoke by phone for almost half an hour last night. but a first negotiating round between treasury secretary timothy geithner and congressional leaders did nothing to improve the tone on capitol hill. democrats said the ball was in the speaker's court. >> we're saying, extend the tax cuts for the middle class as part of that. we know if we do nothing, the top rates go up. we're waiting for the republicans to come forward with something. that's our proposal, period. >> reporter: no one in washington ever thought negotiations to get past the fiscal cliff would be easy. now, more and more are talking about a rerun of what happened with the tarp bailout bill. first, congress may have to deadlock and go over
can do if the u.s. heads into recession because of the fiscal cliff, bernanke says, not much. >> in the worse case scenario, where the economy goes off the broad fiscal cliff, the largest fiscal cliff, which, according the c.b.o. and our analys, would send the u.s. economy into recession, i don't think the fed has the tools to offset that. >> susie: members of the audience agreed. >> he was very frank in saying, you know, "we can try," he essentially said, "we will try, but we don't have anything in our arsenal that comes close." >> susie: bernanke is already using the weapons in his arsenal to fix the job market, which he said today is still "unhealthy". he also repeated the fed's plan to keep interest rates super low at least into 2015. >> we will want to be sure that the recovery is established before we begin to normalize policy. we hope that such assurances will reduce uncertainty and increase confidence among households and businesses. >> susie: but bernanke gave no hints on when americans can expect to see higher rates. >> the further we go down the road, the question
and led to the worst oil spill in u.s. history. inits guilty ple b.p. saidt deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the men who died when the "deepwater horizon" exploded. >> perhaps the greatest tragedy is that the deaths of the 11 men on board the "deepwater horizon" could have been avoided. the explosion of the rig was a disaster that resulted from b.p.'s culture of privileging profit over prudence. >> reporter: b.p. has agreed to plead guilty to 11 counts of felony manslaughter and one felony count of lying to congress. in addition, two b.p. supervisors on the deepwater rig have been charged with 23 counts of manslaughter. another b.p. executive was charged with lying to congress. b.p. will also pay a record- setting $4 billion in criminal fines and penalties. thrown in with the criminal charges is a civil settlement with the securities and exchange commission. b.p. will pay more than h
is on assignment tonight. a repeated warning to washington-- if the u.s. goes over the fiscal cliff, it would push the economy into a recession. and late today, a top credit rating agency puts the odds of going off the cliff at 15%. plus, how g.o.p. economic policies could change as election day demographics change. that and more tonight on nbr! the u.s. economy would be driven into recession next year if the fiscal cliff is not solved in time. that's the warning again today from the congressional budget office. and the standard and poor's ratings agency said there's an increasing chance we will go over that cliff of tax increases and spending cuts. it puts the odds at 15%. still, s&p is optimistic about a solution, saying "the most likely scenario, in our view, is that policymakers reach sufficient political compromise in time to avoid most, if not all, potential economic effects of the cliff." both s&p and the congressional budget office warned unemployment would go over 9% by the end of next year if the cliff is triggered. those s&p comments hit the market in the last 30 minutes of trading, ext
business. >> reporter: it used to be consumers would buy private label products to clean their bathrooms or wash their clothes. lately, however, they're eating them, too. from sodas to peanut butter, private label brands are shaking off the yuck! stigma and attracting value-conscious customers. and it's the popularity of private label food that's behind the tasty conagra-ralcorp deal. >> private label, otherwise known as store brands, is gaining traction with retailers and shoppers. in fact, store brands have been growing faster than branded food for some time, and we expect that to continue. >> reporter: it might be hard to believe, but store brands now account for about a fifth of all packaged foods sold in the u.s., and at 70 $billion, we're talking big business. conagra is known for name brands like pam, slim jim, and reddi whip, and it also makes some private label goods. ralcorp is the top manufacturer of growing store brand categories such as cereal and pasta, and it supplies companies like walmart and mcdonald's. together, conagra and ralcorp could become a private label powerhou
folks are looking for-- and i think all of us agree on this-- is action. >> reporter: speaker pelosi suggested the leaders agree on milestones that will bolster the economy. >> we should have a goal in terms of how much deficit reduction. we should have a deadline before christmas. we should show some milestones of success so that confidence can build as we reach our solution. >> reporter: over the last week markets had grown increasingly pessimistic about avoiding the fiscal cliff. today's tone provided some relief, but it's clear major hurdles remain. >> how much do rates have to go up? what can republicans accept on that and what can the democrats accept in terms of structural reform of entitlements? i think those are the two big sticking points and those are going to remain the sticking points. and if you can figure out what's going to happen there, you can figure out whether there is going to be a deal and when that deal might happen. >> serious negotiating begins after thanksgiving. susie. >> susie: you know, darren, you talked about the mood of cooperation, and listening to th
: this is the calm before the storm at a chicago toys r us. manager danny soro thinks up to 10,000 shoppers will descend on the store when it opens thanksgiving evening, forcing his 300 employees to cut short their holiday. >> we open at 8:00 and we're expecting lines to start from 5 pm to go pretty much throughout the plaza. >> reporter: walmart, kmart, and sears are also opening tomorrow at 8pm; target's opening at 9:00pm. and while opening on turkey day is expected to mean big business for retailers, it's ruffling the feathers of many employees who won't get paid overtime to work the holiday. >> i feel very frustrated about this situation. >> reporter: walmart associate charmaine givens is scheduled to work two eight hour shifts with a three hour break starting tomorrow at 7 pm. >> i'm not gonna do that, no. >> reporter: you're just not going to show up? >> i'm going to call in. i'm gonna call in. i'm not going to just abandon the job. i'm gonna call in and i'm gonna state how i feel. >> reporter: givens hopes to join other walmart emploes around the country in a protest outside the chai
with lawmakers today joins us. he is david cote, c.e.o. of honeywell. david, thank you so much for joining us. we really appreciate it. did you get the sense from house speaker boehner, he is ready to make a deal? >> i would say there is a recognition on all sides about the significance and importance of a deal. it is a real question about gettin both sides en the room to actually hammer it out and get something done because we don't have a lot of time left. >> susie: president obama said he would like to have a deal by christmas. from what you heard today, how realistic is that? >> if they want to, they can get this done in a couple of days. it is just a matter of kind of working out some of these important details. but it's a matter, i think, they just need to get together and get started. i think both recognize the need for a market-credible $4 trillion deal, and it has got to comprise both tax increases that are believable and that will happen, and entitlement reform that is believable and will happen. both of those things will have to be an important rt of this. >> susie: did speaker boehner
that gets us to a larger deal next year, you don't think that will rep ardize the economy? >> i think if we can do as little as possible, they will already raise some tax. the payroll tax holiday may very well go away. so no more. i think the economy can get through that be, it's not good news but it's not the end of the world and then you need a deal in the spring. >> dow agree with that? >> well, i think that we will see slowing, yachlt i mean that will be a drag on the economy but the story of the recession going over the fiscal cliff is one where those tax increases and spending cuts stay in place through the year. >> just very quick prediction. do you think they'll come up with a package and how big will it be, 2 trillion, three and a half, 3 trillion. >> i don't think-- i think they'll separate the issues. i think we'll have something done on getting over this fiscal cliff and then they'll talk about a package. >> i think they will not go over the fiscal cliff, probability .7, not one. and they will sketch out a framework for dealing with spring. it is too much work. >> i thought we w
Search Results 0 to 39 of about 40 (some duplicates have been removed)